Republic of Korea: Hexamethylenediamine And Ethylenediamine Market 2024

Hexamethylenediamine And Ethylenediamine Market Size in Republic of Korea

The South Korean hexamethylenediamine and ethylenediamine market shrank notably to $X in 2021, with a decrease of -17.8% against the previous year. Over the period under review, consumption saw a mild contraction. As a result, consumption reached the peak level of $X, and then contracted remarkably in the following year.

Hexamethylenediamine And Ethylenediamine Production in Republic of Korea

In value terms, hexamethylenediamine and ethylenediamine production declined significantly to $X in 2021 estimated in export price. In general, production saw a pronounced decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by 84% against the previous year. As a result, production attained the peak level of $X, and then dropped dramatically in the following year.

Hexamethylenediamine And Ethylenediamine Exports

Exports from Republic of Korea

In 2021, overseas shipments of hexamethylenediamine and its salts, ethylenediamine and its salts decreased by -80.5% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 when exports increased by 155%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, hexamethylenediamine and ethylenediamine exports contracted markedly to $X in 2021. Overall, exports faced a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 132%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for hexamethylenediamine and ethylenediamine exports from South Korea, accounting for a 35% share of total exports. Moreover, hexamethylenediamine and ethylenediamine exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was held by India (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-12.5% per year) and India (-17.9% per year).

In value terms, Malaysia ($X), Indonesia ($X) and India ($X) constituted the largest markets for hexamethylenediamine and ethylenediamine exported from South Korea worldwide, with a combined 53% share of total exports.

Malaysia, with a CAGR of -7.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average hexamethylenediamine and ethylenediamine export price amounted to $X per ton, surging by 78% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hexamethylenediamine And Ethylenediamine Imports

Imports into Republic of Korea

In 2021, imports of hexamethylenediamine and its salts, ethylenediamine and its salts into South Korea expanded modestly to X tons, with an increase of 4.1% against the previous year. In general, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.3% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 24% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, hexamethylenediamine and ethylenediamine imports surged to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.5% against 2019 indices. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest hexamethylenediamine and ethylenediamine supplier to South Korea, accounting for a 79% share of total imports. Moreover, hexamethylenediamine and ethylenediamine imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), tenfold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+35.5% per year) and Saudi Arabia (+25.3% per year).

In value terms, the United States ($X) constituted the largest supplier of hexamethylenediamine and its salts, ethylenediamine and its salts to South Korea, comprising 82% of total imports. The second position in the ranking was held by Belgium ($X), with a 6.6% share of total imports. It was followed by China, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+34.0% per year) and China (+14.2% per year).

Import Prices by Country

The average hexamethylenediamine and ethylenediamine import price stood at $X per ton in 2021, rising by 30% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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